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Grocery-Anchored Store Keys Houston Shopping Center Trade
An Aldi grocery store was the key component of a recent sale of a Houston retail center. Shoppes at Kingsgate, a 156,000-square-foot retail center in Northeast Houston, traded hands in a recent deal.
Built in 1980, renovated in 2013, and anchored by Aldi and Dollar Tree since 2017, Shoppes at Kingsgate consists of multiple buildings situated on a 15-acre parcel. Additional tenants include Cell Doc, Binh’s Tailor, Trademark Kitchen & Bath, The Mint National Bank, Schlotzsky’s, and On The Park Toy Store.
Marcus & Millichap’s Philip Levy and Chris Gainey represented the Houston-based seller. According to Levy, the center was 95% occupied at the time of sale.
The property is located at the intersection of Kingwood Dr and Chestnut Ridge Rd.
- ◦Sale/Acquisition
